Quote of the month: What is the difference between a taxidermist and a tax collector? open to find out Nov 19 - Your Knowledge.pdf
Inside this months 'Your Knowledge' newsletter:
1. Capital Gains and the Family Home:
The Government has resurrected its plan to remove access to the main residence exemption for non-residents – a move that will
impact on expats and foreign residents.
2. Vacant Land Deduction. Changes hit 'Mum & Dad' property developments:
Legislation that passed through Parliament last month prevents taxpayers from claiming a deduction
for expenses incurred for holding vacant land. The amendments are not only retrospective but go
beyond purely vacant land.
4. Can the ATO take money out of your account?
You might have seen the recent spate of media freedom advertisements as part of the Your Right to
Know campaign. The prime-time advertising states that the Australian Tax Office (ATO) can take money
from your account without you knowing. The question is, do you really know what powers the ATO
5. Are you paying your staff correctly? Woolworths $200m Plus Remediation
Woolworths is the latest company facing a fallout from the underpayment of staff. In what is believed
to be the largest remediation of its kind,Woolworths have stated that they have underpaid 5,700
salaried team members with remediation expected to be in the range of $200m to $300m (before tax).
Click here to read more into the above articles Nov 19 - Your Knowledge.pdf